NIFTY & BANK NIFTY VIEW FOR 01/03/2016

HISTORY REPEATS ITSELF IN STOCK MARKET TOO...!!!

AS USUAL FIRST DAY OF SERIES BULLS SHOWED THEIR POWER (FRIDAY) AND THEN BEARS TOOK OVER (MONDAY)...!!!

ANYWAY TODAY MOVES WERE VERY MUCH VOLATILE AND WE HAD ALREADY THAT IF YOU ARE SMALL TRADER THEN PLEASE STAY AWAY TODAY FOR TRADING...!!!

ALSO OPTION CHAIN CHANGES TOOK PLACE SOMEWHAT AS PER OUR EXPECTATION GIVEN IN LAST BLOG POST....!!!

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

March Series 
Nifty ~ Mammoth additions were made in 7200 & 7300 CE. Whereas on some PE front some ITM liquidation took place but surprisingly additions in 6300 to 6800 PE were also seen.  

Highest OI tag is with 7000 PE & 7500 CE. 

Bank Nifty ~ Some additions in 13000 & 13500 PE were seen with major liquidation on 15000 CE front.

Highest OI tag is with 13500 PE & 14500 CE. (CE from shifted from 15000 to 14500)

NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR NIFTY:-

RESISTANCE LEVELS:- 7015, 7061, 7106 & 7161
SUPPORT LEVELS:- 6960, 6925, 6869 & 6833

NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR BANK NIFTY:-

RESISTANCE LEVELS:- 14028, 14112 & 14179
SUPPORT LEVELS:- 13756, 13672, 13604 & 13536

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 19.01
(as on 26/02/2016)
PE RATIO FOR BANK NIFTY STANDS AT 15.33
(as on 26/02/2016)

MARCH SERIES
NIFTY PCR ON BASIS OF OI IS 0.88
BANK NIFTY PCR ON BASIS OF OI IS 0.88

FINAL CONCLUSION

Quarterly close (Jan-March) below 7500 shall make Bear more powerful. Weekly (till March expiry) close above 7300 can give some hope of pull back till 7500...!!! (Valid till March series expiry)

Nifty
Additions 7200 & 7300 CE shall act as stiff resistance. Also in coming session or 2 we feel that either of this shall become highest OI on CE front. (Already expressing this view with timelimit and options writers are on verge of doing it). On PE Front though some liquidations took place but additions in 6300, 6600 & 6800 PE gives different picture altogether. 

Bank Nifty
Liquidation in 15000 CE with additions in 14500 CE had made clear that it will be tough road for bulls in coming days though some bounce cannot be ruled in between but additions in 12500 PE also gives scary picture. 

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STANDARD DISLCOSURE:-

PLEASE NOTE THESE MOVES ARE AS PER CHARTS AND OPTIONS CHAIN WHICH MAY REVERSE ANYTIME. THIS POST IS FOR EDUCATION PURPOSE ONLY AND NOT TO BE CONSIDERED AS BUYING OR SELLING RECOMMENDATION. WE ARE NOT SEBI REGISTERED RESEARCH ANALYST. WE ARE NOT RESPONSIBLE FOR ANY PROFIT OR LOSS FOR ANY TRADES EXECUTED ON BASIS OF THIS POST. WHILE UTMOST CARE HAS BEEN TAKEN WHILE ANALYSING CHARTS & OPTIONS DATA BUT IF INCASE THERE IS ANY HUMAN ERROR WE ARE APOLOGISE FOR IT.

WE REQUEST ALL READERS TO GIVE THEIR FEEDBACK ON NIFTY50STRIKER@GMAIL.COM OR BY CALLING/WHATSAPP MESSAGE ON 08866145155 OR BY COMMENTING ON THIS BLOG POST.

ABOUT AUTHOR ~ MANUSH VADHER

WORKING AS SHAREKHAN SUB BROKER AND HOLDING MASTER DEGREE IN FINANCE HAVING EXPERIENCE OVER 10 YEARS IN CAPITAL MARKET.